Politics & Policy


Sen. Richard Shelby, the official Republican point-man on financial reform negotiations, says a deal is in sight:

Sen. Richard Shelby (R-Ala.), the ranking member of the Senate Banking Committee, said that while there was no agreement on the financial reform bill, one was nearing.

“We’re getting close to that goal, and we’re going to continue to work with that,” Shelby said during a press conference at the Capitol.

“We’re not there yet, but we’re closer than we’ve ever been,” he added.

The Alabama senator said that it was unclear how much more time was needed to resolve the differences, and only said an agreement was likely “pretty soon.”

Shelby said, though, that robust negotiations had continued throughout the past week despite indications that a letter from all 41 Republicans pledging to filibuster the bill in its current form might have shut off talks between both parties. Senate Minority Leader Mitch McConnell (R-Ky.) had circulated that letter and maintained discipline among GOP senators throughout the week, despite efforts from the Obama administration to pick off votes.

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